Hollencrest Capital Management Sells 305 Shares of KLA Co. (NASDAQ:KLAC)

Hollencrest Capital Management lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,336 shares of the semiconductor company’s stock after selling 305 shares during the quarter. Hollencrest Capital Management’s holdings in KLA were worth $3,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLAC. Cedar Wealth Management LLC boosted its position in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 17 shares during the last quarter. Family Firm Inc. bought a new position in KLA in the second quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new stake in KLA in the third quarter worth about $38,000. 1620 Investment Advisors Inc. bought a new stake in KLA during the 2nd quarter worth about $44,000. Finally, LRI Investments LLC acquired a new position in KLA during the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Trading Up 0.5 %

Shares of KLA stock traded up $3.36 on Friday, hitting $689.51. The stock had a trading volume of 305,875 shares, compared to its average volume of 947,782. The stock has a market cap of $92.23 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.40 and a beta of 1.29. The stock’s 50-day simple moving average is $735.90 and its two-hundred day simple moving average is $763.89. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA Co. has a one year low of $505.50 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm posted $5.74 earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. As a group, sell-side analysts predict that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.99%. KLA’s dividend payout ratio is currently 26.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KLAC. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company dropped their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Citigroup reduced their price target on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, TD Cowen dropped their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $802.90.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.